Tokyo Steel has announced a price reduction in domestic ferrous scrap by JPY 500/t ($3/t) for all grades effective 24 Jul’24 except its Utsunomiya plant. Consequently, the new price of ferrous scrap stood at JPY 51,000/t ($327/t) for the Tahara plant and JPY 50,000/t ($321/t) for the Okayama plant. The drop is mainly due to the recovered JPY, but the Utsunomiya factory in Kanto was excluded from the reducton amid prior export contracts.
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